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Coventry Intermediaries – Godiva Mortgages Buy to Let 5.59% Capped rate to 31.03.13

Coventry Intermediaries – Godiva Mortgages Buy to Let 5.59% Capped rate to 31.03.13

Type: Buy-to-let capped rate tracker mortgage

Capped term: Until March 31, 2013

Capped rate: 5.59%

Tracker term: Until March 31, 2013

Tracker rate: 3.09% above the Bank of England base rate

Payable rate: 3.59%

Minimum loan: £25,000

Maximum loan: Up to 60% of valuation subject to a maximum of £1m

Income multiples: Rental income must be at least 125% of the mortgage repayments

Flexible features: Overpayments, payment holidays of up to three months a year, interest calculated daily

Conditions: Capital repayments of up to 5% a year allowed without penalty in the tracker period, one free valuation up to £700, free legal fees for remortgages

Arrangement fee: £999 arrangement fee plus £250 booking fee

Redemption fee: 4% of the amount repaid in the tracker period

Introducer’s fee: Subject to negotiation

Tel: 0845 7573612

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